To add to my discussion on pricing (more coming, promise), here is Seth Godin on pricing: (emphasis mine)

The other half of the pricing formula is the story the price itself tells. A Prius at $40,000 or a Prius at $10,000 is the same car, but the price becomes a dominant part of the story. You can tell a story of value/cheapness/affordability, or a story of luxury. If you price your product or service near the median, you’re telling no story at all with the price, giving you the chance to tell a story about some other element of what you sell.

In other words, if you are considering one higher price and one lower price, don’t compromise. Pick a story and stick to it.

Worth a full read to hear about the first half of the formula.

This entry was posted by Jason Coleman in Business and tagged . Bookmark the permalink. Last updated: January 23, 2012. Titled Seth Godin on Pricing

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